BidaskClub upgraded shares of Pinnacle West Capital Corporation (NYSE:PNW) from a sell rating to a hold rating in a research report released on Monday, July 24th.
Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded Pinnacle West Capital Corporation from a sell rating to a hold rating in a report on Tuesday, July 18th. BMO Capital Markets reiterated a hold rating and issued a $86.00 target price on shares of Pinnacle West Capital Corporation in a report on Wednesday, May 17th. Finally, Morgan Stanley dropped their price target on Pinnacle West Capital Corporation from $83.00 to $82.00 and set an underweight rating on the stock in a research note on Monday, May 8th. One equities research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the company’s stock. Pinnacle West Capital Corporation has a consensus rating of Hold and a consensus price target of $81.89.
Pinnacle West Capital Corporation (NYSE:PNW) opened at 89.29 on Monday. The company has a market cap of $9.97 billion, a PE ratio of 19.72 and a beta of 0.37. The stock has a 50 day moving average of $86.79 and a 200-day moving average of $84.75. Pinnacle West Capital Corporation has a 1-year low of $70.86 and a 1-year high of $89.91.
Pinnacle West Capital Corporation (NYSE:PNW) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.16 by $0.33. The company had revenue of $944.59 million during the quarter, compared to analyst estimates of $921.79 million. Pinnacle West Capital Corporation had a net margin of 14.37% and a return on equity of 10.20%. Pinnacle West Capital Corporation’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.08 earnings per share. On average, equities research analysts predict that Pinnacle West Capital Corporation will post $4.27 earnings per share for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 1st will be paid a $0.655 dividend. This represents a $2.62 annualized dividend and a yield of 2.93%. The ex-dividend date is Friday, July 28th. Pinnacle West Capital Corporation’s dividend payout ratio is currently 57.96%.
In other Pinnacle West Capital Corporation news, SVP Daniel T. Froetscher sold 2,800 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $87.31, for a total value of $244,468.00. Following the completion of the sale, the senior vice president now directly owns 8,568 shares of the company’s stock, valued at approximately $748,072.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.70% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in PNW. WealthTrust Arizona LLC boosted its position in Pinnacle West Capital Corporation by 0.7% in the first quarter. WealthTrust Arizona LLC now owns 1,244 shares of the utilities provider’s stock worth $104,000 after buying an additional 9 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of Pinnacle West Capital Corporation during the second quarter worth approximately $106,000. Captrust Financial Advisors purchased a new position in shares of Pinnacle West Capital Corporation during the second quarter worth approximately $109,000. Tompkins Financial Corp boosted its position in shares of Pinnacle West Capital Corporation by 15.4% in the first quarter. Tompkins Financial Corp now owns 1,500 shares of the utilities provider’s stock worth $113,000 after buying an additional 200 shares during the period. Finally, Amica Retiree Medical Trust boosted its position in shares of Pinnacle West Capital Corporation by 128.0% in the first quarter. Amica Retiree Medical Trust now owns 1,496 shares of the utilities provider’s stock worth $125,000 after buying an additional 840 shares during the period. Institutional investors and hedge funds own 85.87% of the company’s stock.
Pinnacle West Capital Corporation Company Profile
Pinnacle West Capital Corporation is a holding company that operates through its subsidiaries. The Company operates through regulated electricity segment, which consists of traditional regulated retail and wholesale electricity businesses and related activities, and includes electricity generation, transmission and distribution.
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